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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 10/15/07 Agenda Item # -/0 <br />SUBJECT: <br />Addition to List of Brokers to Obtain Quotes for Investments Purposes as Required by G.S. <br />159-31 <br />BRIEF SUMMARY: <br />G.S. 159-31 requires the approval of all banks/brokers with which the County places <br />investments. A request is being made to add Duncan-Williams, Inc./Investment Bankers <br />and Multi-Bank Securities, Inc. to the broker list. These brokers have requested to be <br />added to the bid list and meet the investment policy criteria. Staff will be available at the <br />Board of Commissioners meeting should questions arise. The banks/brokers must follow <br />G.S. 159-30, Investment of Idle Funds as Dictated by the Local Government Budget and <br />Fiscal Control Act. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Approve the addition of Duncan-Williams, Inc./Investment Bankers and Multi-Bank <br />Securities, Inc. to the list of bank/brokers for County investment purposes. <br />Attachments ^ Yes ^X No Expected Length of Presentation <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 9/26/07 <br />Name I Job Title <br />Budget Amendment Required: ^ Yes ^X No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^X No <br />County Manager's RecommendationslComments: <br />This item was approved by the Board for inclusion on the Agenda as a Consent item. <br />Approval is recommended. <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />-/D <br />